Hedge funds and other speculators have slashed their bullish exposure to U.S. crude to the lowest in nearly five years, trade data showed on Friday, as local drillers continue to add rigs and pump at full throttle despite a global oil glut. U.S. crude prices posted their largest monthly decline since the 2008 financial crisis on Friday, ending down 21 percent, as global demand continued to trail production by about 2 million barrels. Corresponding with the price tumble, data from the Commodity Futures Trading Commission (CFTC) showed money managers’ net long position in U.S. crude futures and options at the lowest levels since […]